Crude oil

Asia oil refining margins climb, but a peak looms

The profit from turning a barrel of crude oil into refined fuels has hit a 13-month in Asia but there are signs that the rally may be starting to lose momentum.

Oil down 1% as weak U.S. gasoline demand offsets big draw in crude stocks

Oil prices were down 1% as a build in US gasoline stocks fed worries about demand after Japan and Europe posted gloomy manufacturing data.

Shell taps Goldman Sachs to explore Singapore refinery and petchem plant sale

Shell is considering a sale of its Singapore refining and petrochemical plants as part of a broader strategic review and has hired investment bank Goldman Sachs to explore a potential deal, said several sources close to the matter.

Oil slides on grim manufacturing data

Oil prices slid almost 2% as gloomy global manufacturing data grabbed attention ahead of an annual meeting of central bankers at Jackson Hole in the United States, with interest rates high on the agenda.

Reliance increased oil imports in July by 6% to nearly 1.1 MMbpd

India's Reliance Industries Ltd, the operator of the world's biggest refining complex at Jamnagar in western Gujarat state, increased oil imports in July by about 6% to 1.09 MMbpd.

Iranian oil cargo seized by US begins unloading after long delay

Russia's September Urals discount begins to widen as India slows purchases

Spot discounts for Russian crude for September loading have started to deepen as India, a key customer of Moscow, reduces purchases due to high prices and maintenance outages at some refineries, four traders and Indian refinery officials said.

China oil buying frenzy cools as record inventory shields it from price rally

China, the world's top crude importer, is drawing on record inventories amassed earlier this year as refiners scale back purchases after OPEC+ supply cuts drove global prices above $80 a barrel, traders and analysts said.

Asia's refiners face profit crunch as Kuwait cuts crude exports

Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its huge new refinery, which is driving up prices for other sour crudes and likely to squeeze profit margins.

China makes rare draw on crude oil inventories as imports slip

China made a rare draw on crude oil inventories in July as imports softened and refinery processing remained elevated to meet rising domestic demand and a surge in refined fuel exports.